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. >> susie: another dent for toyota's reputation. for the second time in two months, the japanese automaker is launching a massive recall. this one involving nearly three million vehicles around the globe. this time it's a steering defect. and this recall affect's toyota's iconic hybrid name plate: the prius. 670,000 prius hybrids in the u.s. are being called back. worldwide. the voluntary recall involves over 2.7 million vehicles. the cars are being recalled because the connection between the steering wheel and the gearbox could wear out, leading to a loss of steering. so far, the company says there have been no accidents or injuries from the problem. toyota recalled over seven million vehicles for a faulty power-window switch just last month. the automaker has been trying to repair its image after a series of massive recalls, 14 million vehicles over the last several years. until recently, toyota was the role model in the auto industry for quality products. also today, toyota agreed to pay more than $25 million to settle an investor lawsuit about a 2009 recall over faulty floor mats and g
competitors with american companies. it was toyota versus gm. it was toshiba versus ibm, et cetera, et cetera down the line. chinese companies are subcontractors for american brands. every apple product is made in china. two weeks ago, i was seeing where they were made. but of the $1,000 for an apple computer, only about $80 or $90 stays in china. the rest is with apple and with the screen makers and advertisers and retailers and fed ex and all the rest. and so, we have a trade deficit with china. the debt that the chinese hold over us actually they view as a weakness on our side for them, rather than us. number one, it makes them hostage to the value of our dollar and to our financial markets. if we're having a discussion in china, people would say, "what are we thinking, having all our savings in these u.s. treasury notes? you know, what if they default? what -- the interest, what if they have runaway inflation, et cetera, et cetera?" it's the imbalance between the two countries is a sign of imbalance in both of our systems. we've been too debt dependent and too over consumptive. they have
Search Results 0 to 2 of about 3 (some duplicates have been removed)